Home Loans Mortgage: HUD 2012 Budget: Increased Outlays Offset by Incoming FHA Receipts

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Feb 15, 2011 10:14AM

HUD 2012 Budget: Increased Outlays Offset by Incoming FHA Receipts

U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan has released HUD's 2012 Fiscal Year budget request. The latest HUD budget proposal outlines a $48 billion spending program for fiscal year 2012, an increase of more than $900 million from 2010. The $48 billion gross budget appropriation proposal is expected to be offset by a projected $5 billion in receipts from FHA and Ginnie Mae. When including receipts, HUD's net budget authority will total $43 billion, this is a 1...

Feb 15, 2011 1:41PM

Mortgage Rates on Three Day Winning Streak

Mortgage rates are on a three day winning streak! Yes you read that correctly. After snapping a 5-day losing streak last Wednesday, loan pricing has improved in 3 straight trading sessions. Upon careful inspection, we are ready to update current market "best execution".... UPDATED CURRENT MARKET* : The "Best Execution" conventional 30 year fixed mortgage rate is no longer split between 5.125% and 5.25%....it has fallen firmly to 5.125%. 5.00% quotes are available but borrowers should expect to be...

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Today's Comments

	"I'm totally mystified by HUD's assumption that FHA lending is going to be significantly reduced in the next year. What is going to replace it?..."
	"The MIP increase is no big deal if you are in a market with 100k homes, but this will be a deal killer for the North East where homes run from 300k-800k..."
	""were indifferent to the consequences of their actions for homeowners and communities" ... I think this sums up their attitude. It's really..."

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Today's Q&A

	"How do i send extra payment to morgage towards principle only..."
	"If my agent is selling my home and showing me my new home how..."
	"What is the quickest and easiest way to transfer complete ownership..."

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Today's Forum Discussions

	"Hello All, Just got back from my bank. Originally talked to the loan officer about doing a Refinance with Cash out. I wanted to do two things..A- Lower..."
	"Loan Scenario View All Post A Scenario Loan State: Alabama Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $138,000 Property Value:..."
	"Borrower was an authorized user on a corporate amex owned by her husband. He died over 2 years ago...account was closed then...is she persoanlly obligated..."

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